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Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran in the global oil market, things might not necessarily pan out this way. As the world is gradually getting used to the idea that Iranian sanctions will be lifted, over the past few months further progress has been made in terms of legislation. According to the latest weekly report from shipbroker Gibson, “firstly, the US Congress failed to block the Iran nuclear deal reached in summer 2015. Secondly, the same deal has been approved by the Iranian parliament. The latest news is that on the 18th of October US authorities approved conditional sanctions waivers for Iran (known as Adoption Day). These waivers will only take effect after Iran complies with its commitments and this is verified by the IAEA (Implementation Day)”.
However, the question of how quickly will this happen, needs to be answered. According to Gibson, as per “several senior US officials, the Implementation Day is at the very least two months away; while most industry experts are of opinion that this is unlikely to happen before the first quarter of next year. If and when Iranian sanctions are lifted, it will have important implications for global oil markets. As it is, the world is awash with crude, following OPEC’s policy to defend its market share. At the same time, US crude oil production is not falling fast enough to balance supply and demand, despite prices remaining low. Finally, concerns are intensifying about the health of world economy, leading to lower expectations for global oil demand growth next year. In these circumstances, if Iran is able to rapidly increase its production and exports, this will only add more crude to an already heavily oversupplied market”.
The shipbroker added that “undoubtedly, this year the overhang of crude oil has fuelled tanker markets not only in terms of supporting trade, but also leading to additional storage requirements and loading/discharge delays. As such, any increase in Iranian exports will at the very least elevate these inefficiencies in tanker transportation, supporting tight supply/demand balance. However, there are also concerns about the Iranian fleet, which will become internationally operational and is likely to compete aggressively in the conventional tanker market when sanctions are lifted”.
According to Gibson, “as of now, 37 VLCCs, 9 Suezmaxes and 5 Aframaxes are under control of the National Iranian Tanker Company (NITC). However, about half of the fleet is already employed, largely shipping Iranian crude to a limited number of international buyers (although there is some scope here for efficiency gains, such as faster speeds and reduced waiting time). The rest of the NITC fleet is used for crude/condensate storage, with the latest count at 20 units under the NITC control and 5 by other owners. If the nuclear dispute is resolved, a number of VLCCs used for storage, will continue doing so for operational/marketing reasons as was the case prior to sanctions”.
The shipbroker also noted that “as such, essentially only those tankers which will be released from storage duties will be in position to provide an incremental boost to tanker supply. It could take some time for these ships to meet international standards in terms of class and insurance. Furthermore, many units are likely to require dry docking. On this basis, the process of “re-entry” will be gradual. Finally, if Iran succeeds in rapidly increasing its production and in significant volumes, this would provide additional demand for the NITC fleet, limiting further the threat of competition to the international tanker supply”, Gibson concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
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